Amazon EC2 billing and purchasing options
You can use the following options to optimize your costs for Amazon EC2:
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On-Demand Instances – Pay, by the second, for the instances that you launch.
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Reserved Instances – Reduce your Amazon EC2 costs by making a commitment to a consistent instance configuration, including instance type and Region, for a term of 1 or 3 years.
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Spot Instances – Request unused EC2 instances, which can reduce your Amazon EC2 costs significantly.
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Dedicated Hosts – Pay for a physical host that is fully dedicated to running your instances, and bring your existing per-socket, per-core, or per-VM software licenses to reduce costs.
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Dedicated Instances – Pay, by the hour, for instances that run on single-tenant hardware.
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Capacity Reservations – Reserve capacity for your EC2 instances in a specific Availability Zone.
If you require a capacity reservation, purchase Reserved Instances or Capacity Reservations for a specific Availability Zone. Capacity Blocks can be used to reserve a cluster of GPU instances. Spot Instances are a cost-effective choice if you can be flexible about when your applications run and if they can be interrupted. Dedicated Hosts or Dedicated Instances can help you address compliance requirements and reduce costs by using your existing server-bound software licenses.
For more information, see Amazon EC2 Pricing